Home Industry Finance Abu Dhabi fund ADIA boosts global presence with GIFT City office The fund will undertake a phased transfer of certain existing Indian investments to its GIFT City subsidiary by Gulf Business October 8, 2024 Image credit: Dhiraj Singh/ Getty Images The UAE’s biggest sovereign wealth fund, Abu Dhabi Investment Authority (ADIA), has started operations at the Gujarat International Finance Tec-City (GIFT City), India’s new tax-neutral finance hub. ADIA will operate in the GIFT City via its subsidiary, which received regulatory approval from the International Financial Services Centre Authority and is now operational. “India is one of the world’s fastest-growing economies and has been a key focus for ADIA’s investment activities for a number of years. We have built an extensive portfolio that spans asset classes, and we remain confident in India’s long-term growth prospects,” said Sheikh Hamed bin Zayed Al Nahyan, managing director of ADIA. “Establishing ADIA’s subsidiary at GIFT City underlines our belief in the opportunities presented by India’s continued growth.” ADIA will undertake a phased transfer of certain existing Indian investments to its GIFT City subsidiary, which will also hold future Indian investments. The fund invests across major asset classes in India, including significant holdings in public and private equity and infrastructure. Earlier in February, ADIA was reportedly setting up a $4-5bn fund to invest in India through its GIFT City. The UAE is the largest Arab investor in India, with investments of around $3 billion in fiscal year 2023-24. Read: Polus Capital Management secures ADIA investment Tags ADIA finance GIFT City India You might also like Insights: Careers with purpose in a world of change UAE unveils National Investment Strategy 2031 UAE Banking Federation’s Jamal Saleh on the potential of digital lending Path to Forward: ADGM reveals its new brand